Republicans say they hate communists. So why do they like Donald Trump?
Summary
President Donald Trump has increased government ownership in key U.S. industries during his term, focusing on national security and control over important companies. This shift towards more state involvement in the economy contrasts with past market-focused presidents in both parties.Key Facts
- Data from the V-Dem project shows U.S. state ownership of the economy dropped from 2nd to 16th place globally in 2025 during Trump’s term.
- By late 2023, the Trump administration invested over $10 billion in critical companies like Intel and mineral producers.
- The government secured special control rights ("golden share") in some firms, including US Steel, through negotiations.
- Although increased, U.S. government ownership remains less than in 163 other countries.
- State ownership is common globally; for example, Norway has majority control of its oil company, and China’s private companies make up 60% of its economy.
- Trump’s approach differs from prior presidents by focusing more on protectionism and state control rather than global market openness.
- He has threatened to stop trade with countries where the U.S. has trade deficits.
- Trump’s political ads against communism are funded with taxpayer money, despite his own government expansion policies.
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